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monetary policy report
Real Sector Developments Report – September 2020
Domestic economic activity, after contracting in the second quarter, is beginning to show signs of recovery from the adverse effects of the COVID-19 pandemic. The latest high frequency data show broad-based improvement in all the key indicators. Retail sales, domestic VAT collections, industrial consumption of electricity, cement sales, vehicle registration, and port activity have all turned around. Private sector contributions to social security and tourist arrivals, however, contracted in July 2020 compared with the same period a year ago.